Member Info for rossannan

RetiredBanker

The market is factoring in country/political risk though, which is fair enough. Calm sailing on that front as the year progresses will reduce that discount.

Sturm

Cabral does look interesting. I guess my equivalent of Cabral is Sierra Madre, which has performed similarly and which I’m sticking with until it’s time to call it a day with precious metals. Hard to say when that will be, but I have seen it suggested that the GPM discount shrinking down to zero (or near enough) will be a pretty good signal. That makes sense to me - you have to find some way of externalising a decision like that.

Ayecuramba - I see what you mean - your 11:29 has now become your 11:30.

The RNS was encouraging but the problem is that it wasn’t “clean” enough for a re-rate. Instead, the hot money, presumably a lot of it IC money, has exited. Happy to stick with it myself.

Anyone with a sense of decency will want to recommend Ayecuramba’s 11:29 post, whatever side of the TXP debate you are on.

Sturm

Must admit I’ve largely stayed away from individual juniors - my biggest gold holdings are Newmont, Barrick and AAZ (copper there too) with Hecla and First Majestic being my main silver exposure. I made the executive decision years ago to buy a shedload of GPM rather than individual juniors, but I guess we could be coming to that part of the cycle where individual juniors really come into their own.

Sturm

That sounds interesting - I will have a look.

Though I’m basically a goldbug I do have a couple of other big O&G holdings - Harbour and Serica. Boring, but they have been good to me and I won’t be parted from them. Until recently I had a smaller holding in JSE that used to be bigger, as you can imagine, but I switched that money into yet more gold miners. Sticking with PTAL though.

Sturm

I got into PTAL in June 2020 and it has been a good experience for me, even if the dividends that I happily collected in recent years were a bit previous - as the share price and yield were indeed warning, to be fair. Sounds like you’ve been in there a lot longer than me.

Ayecuramba

For Sturm.

It’s called FOHA and it is entirely understandable.

Filtered for having well-founded (as it turned out) misgivings?

Ayecuramba

Yes, working with projections based on management aspirations rather than actual production figures and financial accounts - how’s that working out for him?

Hope for the best but read the whole RNS. If it is “clean”, good times ahead.

Ayecuramba

He is certainly right to be worried about the future.

Important not to confuse what you will get with the operational update for Q2 tomorrow with what you will get with the interim results for H1 in about 5 weeks.

Sturm

Since I started looking at TXP more closely in 2024 you have consistently been explaining how good things were going to happen for TXP - mechanically and financially - and that modelling has been consistently wrong. Why would it be different this time?

Ab76

And while I’m not particularly minded to stick up for JSE, you are missing a trick with PTAL. One of the best managements I’ve come across in this sector - PTAL is down at the moment because the management had the courage and discipline to act early and decisively to protect long term shareholder value.

Ab76

We all have winners and losers. Diversification is the key - never put all your eggs in one basket case.

Price action today is not that encouraging. As I said before, let’s see what the announcement says tomorrow and let’s be sure to read it to the end just to make sure they haven’t bundled any nasties with it.

Sirmark

https://www.gov.uk/guidance/having-honours-taken-away-forfeiture